All Questions
Tagged with social-security self-employment
13 questions
4
votes
1
answer
326
views
US Social Security taxes while working for Canadian employer but living in third country
https://stackoverflow.blog/2021/02/19/podcast-314-how-do-digital-nomads-pay-their-taxes/ got me thinking, how would a United States citizen, living in Taiwan (which has no Social Security totalization ...
- 151
1
vote
1
answer
226
views
Do you get any social security credits if you put 100% of your income in a 401(k)?
Scenario:
Your spouse is the primary earner
You had a 1099 side-job earning $15k
You put all $15k in a solo-401(k) plan
Would you earn any social security credits in this situation?
- 910
1
vote
1
answer
1k
views
Received a Letter from SSN Administration and Very Confused
I received a Form SSA-L5114 and it says
"Based on information provided to us from Internal Revenue Service, we are reducing the amount of your self-employment income on your Social Security ...
- 759
2
votes
0
answers
80
views
The Social Security Special Earnings Limit Rule---How Long is the Cap on Hours Worked in One's Own Business Truly in Effect?
I am under the impression that retirees who are collecting Social Security benefits and start a business are capped in the number of hours they can work between 15 and 45 hours per month if they have ...
- 191
1
vote
2
answers
260
views
Does the employer social security tax also apply on self-employment income for individuals with W2 income that exceeds the IRS maximum?
I have a question very similar to W2 and 1099 (self employed) income in same year: social security taxable income limit?, but goes a step further.
The goal of my question is to estimate how much ...
- 123
4
votes
1
answer
196
views
When does a self-employed tax payer have to make quarterly tax payment? (Safe harbor rule)
My question is about when does a self-employed tax payer have to make quarterly tax payments.
I understand that there is a safe harbor rule that says if you owed less than $1000 in taxes then you do ...
- 2,022
1
vote
1
answer
90
views
Total income between job and self-employment will exceed Social Security cap
This is similar to another question (here)... but I'm not sure if the answer is the same.
I work in the oilfield and I mine cryptocurrency. Because of the current crypto bull cycle the income from ...
- 163
2
votes
1
answer
104
views
US 2020 Schedule SE line 7 vs. married filing jointly
Maybe a simple question, but I haven't found an answer: Schedule SE says that for 2020, earnings over 137,700 aren't subject to social security tax.
We file jointly; my spouse has self-employment ...
6
votes
1
answer
1k
views
Do I need to pay medicare/social security as full-time employee but with a business on the side of which I'm the sole owner/employee?
I'm working full-time for a company, but I also have my own mobile app business on the side. Do all the regular self-employment rules apply to me? I'd like to take the money I make from my side ...
- 71
11
votes
8
answers
6k
views
How much should a hobby business make to be worth the effort for taxes?
My wife was a software developer for 15 years until we had our daughter, and since then she has been primarily concerned with caring for her. She has been volunteering her time for personal ...
3
votes
1
answer
966
views
Do non-resident freelancers need to disclose their SSN?
I am neither a resident nor a citizen of the United States, but about twenty years ago, I did live and work there temporarily. I got a Social Security Number and paid income tax on my earnings from ...
- 238
4
votes
1
answer
4k
views
When do I pay taxes if I'm self employed?
This is my first time paying/filing for taxes.
Starting April 2013, I started getting paid as a part time independent contractor. When I get paid, nothing is withheld.
I have no idea when to pay ...
- 151
7
votes
1
answer
7k
views
W2 and 1099 (self employed) income in same year: social security taxable income limit?
For 2013, the maximum taxable social security income for employees on wages is $113,700, and for self employed individuals it is also $113,700 (though obviously at a higher rate).
Suppose a person is ...
- 307